Southeast Minnesota had more sales in September than a year ago, but homes are taking longer to sell and buyers have more options. Here is the latest for Rochester and the surrounding region.
The numbers for September 2026
Minnesota REALTORS® reports that the Southeast Region (Region 10, which includes Rochester) had a median sales price of $294,950 in September, down 2.5% from $302,500 a year earlier. Year to date, the median is $314,900, up 2.2%. Monthly medians move around, so the year-to-date number is a better guide to the trend.
Sales activity was solid. Closed sales rose 5.5% to 534, and new listings rose 1.7% to 669. Pending sales fell 6.3% to 465, which may mean a slower few months ahead.
Homes are sitting a little longer. The median time on market was 49 days, up from 43. Months of supply rose to 3.6 from 3.0, and sellers received 96.5% of their original list price on average, down from 97.5%.
These are regional figures. Rochester itself usually runs higher than the region as a whole, so ask a local agent for city and neighborhood numbers before you set a price or a budget.
Mortgage rates this week
On the financing side, Freddie Mac’s Primary Mortgage Market Survey for the week of October 15, 2026 put the average 30-year fixed rate at 7.40%, unchanged from the week before, and the 15-year fixed at 6.71%, down from 6.73%. A year ago the same survey showed 6.27% and 5.52%. The St. Louis Fed’s FRED database lists the same weekly readings. The survey assumes a conventional purchase loan with 20% down and excellent credit, so your own quote may be higher or lower.
Freddie Mac releases this survey every Thursday, so we will keep the rate picture current in each weekly update.
Tips for Rochester-area buyers
- Use the extra days on market to your advantage. Ask for repairs or closing-cost help.
- If you are relocating for work, line up your pre-approval before you visit so you can act on a home you like.
- Check commute routes and future road or construction plans around the area you are considering.
- Compare in-town and small-town prices nearby; the region’s median is lower than many Rochester neighborhoods.
Tips for Rochester-area sellers
- With supply rising, a home that looks move-in ready stands out.
- Price close to recent comparable sales; overpriced homes tend to sit and then sell for less.
- Be flexible on closing dates. Relocating buyers often need it.
- Think about a pre-listing inspection so there are fewer surprises later.
The bottom line
The Rochester area remains active, with more closed sales and year-to-date prices still up. But longer market times, rising supply and fewer pending sales point to a more balanced market this fall. That is good news for buyers and a reason for sellers to price carefully.
Photo: “Rochester Minnesota Skyline 01” by Wikideas1, Wikimedia Commons, CC0 (public domain)
Sources: Minnesota REALTORS® Local Market Updates, September 2026 (via rasminfo.com and stcloudrealtors.com) (Region 10, Southeast); Freddie Mac PMMS (Oct. 15, 2026); FRED series MORTGAGE30US and MORTGAGE15US.
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Sponsored by Dan DeMark, REALTOR® | LPT Realty | goldenrulerealestateservices.com
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This article is general information only and is not financial, legal or tax advice. Talk with a licensed lender, attorney or tax professional about your own situation.
